I guess I'll qualify my statement , which was: "... the vast majority of metal detecting hobbyists don't wade out into the water much, if they even water hunt at all. Most are land-based hobbyists, and even most Avid detectorists spend their time on land."
Consider these things:
► Garrett folks stated they have sold over a million Ace series models world-wide. That's a lot, and they aren't waterproof. A lot of folks are just fine using a detector and not hunting in the water, although some might do it a little in a beach environment ... but a smaller percentage of Ace users, to be sure.
► Although I am really hoping some of the Ace series performance has been improved, the ACE APEX is still an Ace series detector. I could hear some slight differences in the video presentation, but I also heard some annoying Iron Audio response that doesn't come across as 'improved' and that means it isn't going to be very useful for those hunting really nasty iron contaminated sites. I do, and have since may of '69.
► I was Detractor Dealer since '77, starting back then with Garrett as a matter-of-fact, and I have been involved with clubs and helped found two or three, and in those and many other situations of contact with people why are or have-been in this hobby, they didn't / don't get out detecting all that often, most have related to me they never hunted a saltwater or freshwater beach, and the bulk of the consumers gradually lose interest in the metal detecting hobby. Especially in recent years compared to those who got into it back in the '70s to mid/late '80s.
► The Ace series and similar lower-cost detectors are what a bulk of the shoppers are looking for because they have a limited budget for a detector. I'm referring to the newcomers as well as those who've been in the sport a while, but not on a very active and frequent pace. Even today we read responses that they felt the APEX is too expensive, with some saying they are just looking for an 'extra' detector or a 'back-up'
► I get together with 17 to 25 people twice a year on Welcome-to-Hunt Outings I host that have mostly been working ghost towns. There are a few people who bring along a waterproof detector to use on the Outings, but those are not a lower-priced detector. Those with a Garrett AT model who have participated soon put it away and get a different and better-performing model and coil for the challenges we face. Some have used a different waterproof detector, like the Equinox series, but generally they haven't done well, and most have reserved them for other uses, such as working a beach or a city park. That's because they don't quite match better-performing models in those applications. The only folks who have continued to use a water-proof detector are Nokta / Makro users of the Kruzer or Anfibio series because, by design, they work quite well in troubling iron debris.
► Folks I know who do make Beach Hunting a dedicated part of their hobby enjoyment also have other non-waterproof detectors for other applications.
In this case I feel the coming Garrett APEX was a good move to make it a land-based device. It helps maintain an affordable price, provides a lot of the features the bulk of the consumers want to see, and it leave the door open for them to offer a dedicated waterproof model for folks like you who are looking for one, especially with some new and different packaging and up-scale features. The APEX was simply a thought-out step in the right direction, and at the same time it offers all those million-plus Ace consumers and followers something of interest to move ahead with some better features and packaging, and also attract new-comers to the Garrett camp because it is an affordable and well-featured model.
Most are not water hunters. Those who are likely have a waterproof model now, or thy will hold out and follow the new features of the APEX just to see what Garrett might work up for a dedicated water hunting model